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U.S. Morning Call: Knight's losses could have been worse-WSJ

Aug. 9 - Knight Capital held about $7 billion of stocks at one point on Wednesday last week when its software broke down, revealing Knight's problems could have been much worse.

TRANSCRIPT +

New details of nightfall as we kick off our morning call for Thursday. Knight capital was holding onto what more stocks than previously thought when all hell broke out last week. The Wall Street Journal report says the firm had about seven billion in stocks at one point Wednesday when it's software broke down. Exposure shows -- problems could have been much worse. CEO Thomas Joyce now reassuring investors that additional safeguards are in place to avoid any further glitches. Shares of -- closed at three dollars and sixteen cents on Wednesday. US stock futures point to a mixed open today. European stocks down today China's latest in consumer inflation data. Dropping to a thirty month low in July with prices rising one point 8%. The news that's making it China's Central Bank more room to ease monetary policy which could stimulate more growth. We didn't in the violent. Which recalls a great monetary easing part two and that is on ZEM side emerging markets but us all on the DM side. The ECB and Bank of England yesterday -- thinking it's very clear is that they're going to see more rate cuts he has -- We're also keeping an -- an economic data in the US initial jobless claims due at 8:30 eastern and expected to show -- rise from the previous week. To 370000. This on the heels of a stronger jobs report that's set markets rallying last week. And he tracks latest report shows US home foreclosures dropped in July 22 straight month. As banks repossessed fewer properties but before you start -- foreclosure starts rose for the third straight month. Also due out later this morning with -- inventory numbers and international trade data. Stocks to watch today Murdoch's Murdoch's news court posted a massive quarterly loss and streaking ad revenue -- -- two point eight billion dollar write down -- publishing unit. The stock closed at 24 dollars share. Moving on to best buy a Reuters report -- several PE -- approach to join him buy out founder Richard shelves. Have expressed doubts about his ability to pull off the deal. Not stock closed at twenty dollars on Wednesday. And an earnings retailer calls out Q2 results. Also keep in mind it's important Wendy's and Lionsgate which report later today. That's your morning called this Thursday you can follow us on Twitter at Reuters Insider and check -- -- -- YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is Reuters.

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